XRP continues to show positive dynamics following the recent news of the conclusion of the Ripple-SEC lawsuit. This event has positively impacted market sentiments.
Conclusion of Ripple's SEC Lawsuit
XRP, the fourth-largest cryptocurrency, surged nearly 6% in the last 24 hours after Ripple announced the closure of its lawsuit with the U.S. Securities and Exchange Commission. Ripple is dropping its cross-appeal and expects the SEC to do the same.
Discussion of ETF Implications
According to Nate Geraci, president of ETF Store, the closure of the lawsuit opens the door for spot XRP ETFs as well as BlackRock entering the market. "This closed chapter clears the way for a spot XRP ETF and allows BlackRock to jump in," Geraci noted.
Updates on XRP and Robinhood
Currently trading around $2.12, XRP has recovered from a low of $2.06. The market remains optimistic, and if key levels of $2.26 and $2.36 are surpassed, it could lead to further growth towards $2.65. Additionally, digital brokerage Robinhood has launched micro futures contracts for XRP, officially unveiling the offering in the United States.
The conclusion of the Ripple and SEC lawsuit positively affects the XRP market, opening new opportunities for investors and ETF creators. Market participants' optimism is reflected in XRP's rise and new offerings from brokers.
